Question

Difference between the compound interest and simple interest on a certain sum for 2years.at7.5%per annum is Rs.360.find the sum

Answer 1

let the simple interest for one year is x rs

as we know the simple interest and compound interest for first year is same

360 will be interest on x rs

so

360 = x × 1 × 7.5 /100

x = 360 × 100 / 7.5

x = 4800 rs

so 4800 is interest for first year

so let find the sum


4800 = principle × 1 × 7.5 /100

principle = 4800 × 100 / 7.5

principle = 4800 × 100 / 7.5

principle = 64000 rs